Harvest management problem in a fractional logistic equation

DOI10.1556/314.2021.00014MaRDI QIDQ6364865arXivFDO

Authors Melani Barrios, G. Reyero, Mabel Maria Tidball

Publication date 8 April 2021

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Fractional derivatives and integrals (26A33) Fractional ordinary differential equations (34A08) Calculus of variations and optimal control; optimization (49-XX)

Abstract: In this article, we study a fractional control problem that models the maximization of the profits obtained by exploiting a certain resource whose dynamics are governed by the fractional logistic equation. Due to the singularity of this problem, we develop different resolution techniques, both for the classical case and for the fractional case. In the last section we perform several numerical simulations to make a comparison between both cases.

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